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Do interlocks by different types of directors affect the nature of internationalization strategy of emerging market multinationals?

journal contribution
posted on 07.12.2021, 10:29 authored by Saneesh Edacherian, Vidya Sukumara-PanickerVidya Sukumara-Panicker
Research that links boards in general and interlocks in particular with internationalization activities of emerging market multinationals (EMNEs) has recently garnered significant attention. However, a focused examination of the impact of the interlocks of different types of directors on the nature of EMNE internationalization strategy is missing. To address this gap, we use an integrated agency–resource dependence perspective to distinguish board interlocks provided by inside directors from those provided by independent directors to demonstrate their impact on exploratory and exploitative internationalization. We test our hypotheses on 1996 observations of Indian firms between 2011 and 2017. Our results show that while inside director interlocks promote exploitative strategies over exploratory internationalization strategies, independent director interlocks deter exploitative internationalization. Furthermore, these preferences are contingent upon the R&D intensity of the firm.

History

School

  • Business and Economics

Department

  • Business

Published in

International Business Review

Volume

31

Issue

4

Publisher

Elsevier

Version

AM (Accepted Manuscript)

Rights holder

© Elsevier

Publisher statement

This paper was accepted for publication in the journal International Business Review and the definitive published version is available at https://doi.org/10.1016/j.ibusrev.2021.101953.

Acceptance date

14/11/2021

Publication date

2021-11-25

Copyright date

2021

ISSN

0969-5931

Language

en

Depositor

Dr Vidya Sukumara Panicker. Deposit date: 15 November 2021

Article number

101953